See volume behind the majors during the GDP and FOMC rate decision to gauge your trading approach using the free FXCM Real Volume and Transactions indicators.

A strong pace of recovery for the US and steady course for the Fed's Taper saw the US Dollar charged higher this past session. Technical breakouts, however, aren't as important as fundamentally-sourced trends. And so, the question is whether this is a greenback move that will develop into a lasting drive. That depends heavily on the expectations for the next heavy round of event risk - including Friday's labor data. In the meantime, dollar traders will also have to keep tabs on risk trends. Investor sentiment didn't present a uniform response to this past session's data, but a jump in FX volatility certainly helped the currency. What is truly interesting though is the more gradual shift in underlying conditions that may be ushering a new market phase. We discuss the changing backdrop from short-term to more systemic in today's Trading Video.